401(k) Deferrals, Matches Increase According to PSCA Data
August 28, 2000 (PLANSPONSOR.com) - The average
401(k) salary deferral rate was 5.4% in 1999, up more than
28% from 1991's 4.2% average, according to the Profit
Sharing/401(k) Council of America (PSCA).
Reported by editors@plansponsor.com
The average matching contribution is now more than 3% of pay, while average contributions for “even the youngest active participants” are now approximately 9% of pay, according to PSCA data.
Preliminary data from their 43rd Annual Survey of Plan Practices also indicates that over 77% of plan assets were invested in equities at the end of 1999, compared with approximately 45% at the beginning of the decade.
Sixty-four percent of companies are now using the Internet in plan administration, compared with just 44.1% a year ago.
PSCA’s 43rd Annual Survey of Plan Practices will be released in September.
– Nevin Adams editors@plansponsor.com